XL-Protein, Easton sign License deal to develop biopharmaceuticals using PASylation technology

Under this collaboration, XL-protein will apply its proprietary PASylation® technology for drug half-life extension to one Easton target.

XL-protein will assume responsibility for early preclinical development activities, Easton will be entitled to further development, manufacturing and marketing of the PASylated compound.

Under the terms of the agreement, XL-protein will receive an upfront payment as well as payments for achievement of preclinical, clinical, regulatory and commercial milestones. Furthermore, XL-protein will receive tiered, mid- to mid-high single digit royalties on sales from marketed compounds resulting from the collaboration.

Easton will have exclusive marketing rights for the P.R. of China for all PASylated products under the agreement. Easton may choose to executive options to obtain world-wide rights and rights for additional therapeutic indications. Further financial terms have not been disclosed.

Easton VP of research & development Qing Dong said: "We are very pleased to collaborate with XL-protein in Germany and exploit its unique PASylation technology to develop new biological molecules with extended half-life in patients, which will reduce drug administration frequency and the overall therapeutic costs as well.

XL-protein CSO & managing director Arne Skerra said: "We are excited to collaborate with Easton as one of the leading pharmaceutical companies in the P.R. of China and we are looking forward to a fruitful collaboration on the development of PASylated biopharmaceuticals as important medicines for the treatment of ocular diseases and beyond; this licensing deal further validates XL-protein’s proprietary PASylation technology."